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An explanation of traditional and points-based timeshares, your legal right to cancel, and what to do if the rescission period has already passed.
There are two fundamentally different types of timeshares — and the type you own has a significant impact on how your contract operates, what your rights are, and what options are available to you.
Deeded ownership of real property — a specific week, every year
Traditional timeshares typically include deeded ownership of real property that provides the right to vacation each year for a week or more at a specific resort. You own a legal interest in the property — which also means you bear the maintenance obligations, assessments, and financial liabilities of an owner.
Traditional timeshares have decreased in popularity due to their lack of flexibility and have largely been replaced with points-based systems. However, many existing owners are still bound by traditional deeded contracts.
No real property ownership — annual points redeemed for stays
Points-based timeshares typically do not include legal ownership of real property. Instead, they provide purchasers the right to use lodging at several resorts. Purchasers are allocated points annually, which are used to reserve accommodations — and each room is assigned a specific point value.
Points-based timeshares are marketed as more flexible. In practice, the ability to book desired dates, resorts, and unit types is heavily restricted by demand, availability, and the developer's changing point requirements.
Factors that reduce your booking power:
Timeshare sales presentations are structured specifically to prevent buyers from conducting due diligence. They take hours — often 4 to 8 hours — and end with high-pressure, same-day signing while you're on vacation. By design.
The things that matter most — perpetual obligation, maintenance fee escalation, booking difficulty, resale value, and the rescission window — are buried in the contract or not mentioned at all during the presentation.
The path forward depends entirely on one question: are you still within your rescission period? The answer changes everything.
By law, every timeshare contract includes a "cooling-off" period that allows a purchaser to cancel within a specific number of days from the date of purchase without penalty. This period varies by state — in Nevada it is 5 calendar days.
There are detailed instructions in your contract explaining how to cancel. It is possible to do this yourself — but if the process is not followed correctly, you will remain bound by the contract.
After the cooling-off period has elapsed, canceling the contract becomes significantly more difficult — the contract has arguably become binding. However, you are not necessarily without options.
We encourage everyone to reach out to their timeshare developer first, especially if the timeshare is paid off. Many developers have approved exit programs for owners who have paid off their loans and are current on fees.
Do not be confused by claims from timeshare "financial groups" or "exit teams" with no legal qualifications offering a "guaranteed" exit. These groups are NOT law firms and cannot represent you in court or arbitration — leaving you potentially exposed to severe consequences.
Exit companies do not require their representatives to be licensed or even educated. They charge exorbitant fees to take advantage of people who are already in a difficult situation.
Our firm focuses exclusively on timeshare matters and has extensive experience dealing with all the major developers — with a proven track record of successful resolutions. Unlike exit companies, we can represent you throughout the entire process and ensure you are legally protected at every step.
Every timeshare situation is different — contract type, payment status, developer, state of purchase, and time elapsed all affect your options. A free 15-minute conversation with our office will tell you exactly where you stand and what paths are available.
We have been doing this since before exit companies existed. We know these contracts — all of them.
